Disruptive events such as economic recessions, natural disasters, job loss, and divorce are common in American families and can have long-term effects on children's academic achievement, socioemotional well-being, health, and later socioeconomic status. The impact of these events varies across groups, with some experiencing profound negative consequences while others may not be affected or even benefit. This article explores the reasons behind these differences, focusing on theoretical approaches that account for effect heterogeneity and methodological challenges in identifying unequal impacts. It also reviews multidisciplinary literature on how disruptions affect children's life chances in economic, household, educational, health, and environmental domains. Disruptive events can occur at the micro or macro level, affecting individuals or large populations. Children are particularly vulnerable because early-life shocks can alter their developmental trajectories, leading to long-term consequences. The risk of experiencing disruptive events is often higher for disadvantaged families, but the effect of these events is not always more severe. Factors such as socioeconomic resources, social normativity, and the predictability of events influence how disruptive events affect different groups. Theoretical frameworks suggest that differences in socioeconomic resources and the normativity of events explain variation in their impact. Disadvantaged families with fewer resources are less able to buffer against the negative effects of disruptions. Conversely, events that are more normative may have less severe consequences. The impact of disruptive events also depends on the context, including social norms, institutional policies, and the availability of resources. Methodological challenges include identifying and estimating causal effects, accounting for confounding variables, and analyzing heterogeneity in effects. Researchers use various tools, including econometric methods and machine learning, to uncover patterns of effect variation. Qualitative studies also provide insights into the mechanisms behind disparities in the impact of disruptions. The article reviews the impact of disruptive events across various domains, including economic (job loss, recession), household (divorce, incarceration), educational (school closures), health (illness, death), and environmental (floods, earthquakes). It highlights how these events affect children's well-being, educational attainment, and socioeconomic outcomes, emphasizing the importance of considering both structural and contextual factors in understanding the diverse effects of disruptive events on children.Disruptive events such as economic recessions, natural disasters, job loss, and divorce are common in American families and can have long-term effects on children's academic achievement, socioemotional well-being, health, and later socioeconomic status. The impact of these events varies across groups, with some experiencing profound negative consequences while others may not be affected or even benefit. This article explores the reasons behind these differences, focusing on theoretical approaches that account for effect heterogeneity and methodological challenges in identifying unequal impacts. It also reviews multidisciplinary literature on how disruptions affect children's life chances in economic, household, educational, health, and environmental domains. Disruptive events can occur at the micro or macro level, affecting individuals or large populations. Children are particularly vulnerable because early-life shocks can alter their developmental trajectories, leading to long-term consequences. The risk of experiencing disruptive events is often higher for disadvantaged families, but the effect of these events is not always more severe. Factors such as socioeconomic resources, social normativity, and the predictability of events influence how disruptive events affect different groups. Theoretical frameworks suggest that differences in socioeconomic resources and the normativity of events explain variation in their impact. Disadvantaged families with fewer resources are less able to buffer against the negative effects of disruptions. Conversely, events that are more normative may have less severe consequences. The impact of disruptive events also depends on the context, including social norms, institutional policies, and the availability of resources. Methodological challenges include identifying and estimating causal effects, accounting for confounding variables, and analyzing heterogeneity in effects. Researchers use various tools, including econometric methods and machine learning, to uncover patterns of effect variation. Qualitative studies also provide insights into the mechanisms behind disparities in the impact of disruptions. The article reviews the impact of disruptive events across various domains, including economic (job loss, recession), household (divorce, incarceration), educational (school closures), health (illness, death), and environmental (floods, earthquakes). It highlights how these events affect children's well-being, educational attainment, and socioeconomic outcomes, emphasizing the importance of considering both structural and contextual factors in understanding the diverse effects of disruptive events on children.